ALBANY, New York, August 16, 2016 – The growing prevalence of diabetes across the globe is the key factor driving the demand for and market of diabetic shoes, states Transparency Market Research (TMR). In a report titled “Diabetic Shoes Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024,” TMR observes that an increase in counseling for proper foot care will also accelerate the market.
The World Health Organization states that since 1980, the number of people suffering from diabetes has quadrupled, with an estimated 422 mn people living with this disease worldwide. In 2012 alone, around 1.5 mn people died from causes related to diabetes. With the increase in the prevalence of diabetes, the level of awareness has also surged, thereby driving the demand for diabetic shoes. The demand for customized diabetic shoes and the focus of manufacturers on the development of lighter, sturdier, and pressure-relieving shoes is projected to boost the market in the coming years.
In terms of revenue, the global diabetic shoes market is dominated by North America and the region held the highest share in the overall market at the start of the forecast period. The growth of this market can be attributed to the production and availability of innovative diabetic shoes in the U.S. The presence of a massive diabetic population has also played a crucial role in the development of the market in this region.
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TMR zeroes in on Asia Pacific as a highly lucrative market for diabetic shoes owing to the rising prevalence of diabetes in the region and growing awareness about the disease. The increasing disposable income in the emerging economies of India and China is also projected to fuel the market during the forecast period.
The vendor landscape of the diabetic shoes market is characterized by the presence of players that are largely focused on manufacturing low-cost products. Considering that Asia Pacific presents immense potential in this sector, companies are turning their attention to emerging economies in the region to capitalize on the opportunities presented. The market is also likely to witness the entry of several new players as this segment of the overall footwear market has been identified by TMR as being extremely lucrative.
Drew Shoe, Etonic Shoes, Podartis S.r.l., Aetrex Worldwide, Inc., Dr. Comfort, and Orthofeet, Inc. are some of the notable players in the global diabetic shoes market.
The report is aimed at helping clients identify the various opportunities that lie ahead in the global diabetic shoes market and provide the necessary guidance in developing profitable growth strategies. The challenges that companies may face over the course of the forecast period have also been addressed with the help of recommendations from industry experts.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.